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During 2019. Kim incurs the following expenses with respect to her beachfront condominium in Hawaii: A (Click the icon to view the data.) During 2019,
During 2019. Kim incurs the following expenses with respect to her beachfront condominium in Hawaii: A (Click the icon to view the data.) During 2019, Kim used the condominium 20 days for vacation. She rented it out for a total of 60 days, generating a total gross income of $9,100. Read the requirements. Requirement a. What are the total amounts of deductions for and from AGI that Kim may take during 2019 with respect to the condominium using the IRS allocation method? (For purposes of this problem, use the allocation formula set forth by Sec. 280A. Enter "O for zero amounts.) Item For AGI From AGI x More Info Expense Item Amount Insurance Repairs and maintenance Interest on mortgage Property taxes Utilities Insurance $ 500 700 3.000 Depreciation Repairs and maintenance Interest on mortgage Property taxes Utilities Depreciation 1,000 Total deductions 800 8,000 Enter any number in the edit fields and then click Check Answer. i Requirements . X a. What are the total amounts of deductions for and from AGI that Kim may take during 2019 with respect to the condominium using the IRS allocation method? b. What is the effect on the basis of the condominium? Print Done
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